Incyte Co. (NASDAQ:INCY) has been given a $167.00 price target by investment analysts at Credit Suisse Group AG in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Credit Suisse Group AG’s target price points to a potential upside of 35.65% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. BMO Capital Markets raised their price target on Incyte from $140.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, April 3rd. Barclays PLC set a $135.00 price target on Incyte and gave the company a “buy” rating in a report on Saturday, April 8th. Zacks Investment Research cut Incyte from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. Piper Jaffray Companies restated a “neutral” rating and set a $124.00 price target on shares of Incyte in a report on Monday. Finally, Raymond James Financial, Inc. restated a “hold” rating on shares of Incyte in a report on Monday. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $139.40.
Shares of Incyte (NASDAQ:INCY) opened at 123.11 on Wednesday. Incyte has a 52 week low of $68.03 and a 52 week high of $153.15. The company has a market capitalization of $23.32 billion, a PE ratio of 227.98 and a beta of 0.78. The company has a 50-day moving average price of $138.77 and a 200-day moving average price of $114.39.
Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, February 14th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.14 by $0.09. The firm had revenue of $326 million for the quarter, compared to analysts’ expectations of $324.90 million. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The business’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. Analysts predict that Incyte will post ($0.08) earnings per share for the current year.
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In related news, insider David W. Gryska sold 41,528 shares of the firm’s stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $138.00, for a total transaction of $5,730,864.00. Following the completion of the sale, the insider now directly owns 20,754 shares of the company’s stock, valued at approximately $2,864,052. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven H. Stein sold 32,000 shares of the firm’s stock in a transaction that occurred on Friday, April 7th. The stock was sold at an average price of $137.88, for a total value of $4,412,160.00. Following the sale, the executive vice president now directly owns 41,648 shares of the company’s stock, valued at $5,742,426.24. The disclosure for this sale can be found here. Insiders have sold a total of 127,571 shares of company stock valued at $18,145,772 over the last three months. 13.70% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of INCY. Shelton Capital Management raised its stake in shares of Incyte by 30,859.4% in the fourth quarter. Shelton Capital Management now owns 3,595,000 shares of the biopharmaceutical company’s stock worth $1,164,000 after buying an additional 3,583,388 shares in the last quarter. Norges Bank acquired a new stake in shares of Incyte during the fourth quarter worth about $180,561,000. Matrix Capital Management Company LP acquired a new stake in shares of Incyte during the third quarter worth about $132,006,000. Fred Alger Management Inc. raised its stake in shares of Incyte by 228.6% in the fourth quarter. Fred Alger Management Inc. now owns 1,765,425 shares of the biopharmaceutical company’s stock worth $177,019,000 after buying an additional 1,228,201 shares in the last quarter. Finally, Federated Investors Inc. PA raised its stake in shares of Incyte by 9,088.7% in the fourth quarter. Federated Investors Inc. PA now owns 577,141 shares of the biopharmaceutical company’s stock worth $57,870,000 after buying an additional 570,860 shares in the last quarter. 92.62% of the stock is owned by hedge funds and other institutional investors.
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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